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Cricket is jumping on the NFT bandwagon — here’s how fans can splurge on digital collectibles in the sporting worldhttps://www.businessinsider.in/cryptocurrency/news/cricket-is-jumping-on-the-nft-bandwagon-heres-how-fans-can-splurge-on-digital-collectibles-in-the-sporting-world/slidelist/85302503.cms2021-08-15T11:13:26+05:30

Cricket is jumping on the NFT bandwagon — here’s how fans can splurge on digital collectibles in the sporting world

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BI India BureauAug 15, 2021, 11:13 IST

Cricket is jumping on the NFT bandwagon — here’s how fans can splurge on digital collectibles in the sporting world — Canva/ BI
Indian blockchain firm Polygon’s solution is being used to build the world’s first dedicated non-fungible tokens’ (NFT) platform for Cricket.
Football clubs worldwide have launched their fan tokens and NFTs on various platforms.
Even Formula 1 and the US’ National Basketball Association have their own NFTs.
After sponsorships and fan tokens, non-fungible tokens (NFTs) are now coming to cricket. India’s Polygon blockchain platform has announced that it will be launching a new platform where cricket fans can collect and trade iconic moments from cricket history called Rario.

NFTs being popular in the world of sports should come as a surprise to no one. Trading cards, memorabilia, famous ticket stubs and other collectibles are an important part of the business of sports. And, NFTs help take that to the next level with blockchain technology.

While football clubs, cricket clubs, basketball teams and others have made their own crypto tokens that could offer new ways to earn money, NFTs have the potential to be more widespread.

Here are some NFT platforms built around sports that you could check out.

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Rario

Rario — Rario
Based on Indian blockchain firm Polygon’s solution, Rario is the world’s first NFT solution meant for cricket fans. The platform is amongst the first to come out of Polygon Studios, the Mark Cuban-funded company’s new NFT and gaming hub. It has tie-ups with international cretors, like Indian fast bowler Zaheer Khan and former South African captain Faf Du Plesis. Given the fact that crypto and NFTs can function outside of country borders, it could cater to all cricket playing nations.

Sorare

Sorare — Facebook
What Rario is trying to do for cricket, Sorare has already done for football. Founded in 2018 and launched in 2019, the platform is already licensed by 154 football clubs around the world. It allows users to collect and trade in player cards and also has a built in fantasy sports platform, a growing market in some countries, including India.
The company had already handled NFT sales worth €60 million as of January 1 this year. NFTs for popular footballers like Portugese Cristiano Ronaldo have been sold for as much as $300,000 on Sorare.

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ToppsNFTs

ToppsNFTs — twitter
While we’re on the subject of football, the German Bundesliga announced a partnership with ToppsNFTs on August 6. The two organizations plan to sell digital collectibles built around the top German football league. “Whether you support clubs like RB Leipzig, Borussia Dortmund, VfL Wolfsburg or Eintracht Frankfurt or a fan of a particular player, the Bundesliga community will have the opportunity to collect their favorite stars as well as their favorite moments from the 2020-21 season, all in one collection,” said Tobin Lent, Vice President and General Manager of Topps Digital Sports and Entertainment, the company that runs ToppsNFTs.

F1 Delta Time

F1 Delta Time — twitter
From football to Formula 1 - F1 Delta Time is a blockchain-based platform meant for Formula 1 fans. “F1 Delta Time creates a new paradigm for digital ownership and gaming. Through blockchain, official Formula 1 non-fungible collectible tokens allow players to participate in a play-to-earn gaming ecosystem, where skills are rewarded with real value rewards,” the platform says on its website.

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NBA Top Shots BI

NBA Top Shots BI — Business Insider
The National Basketball Association announced a tie-up with blockchain platform Dapper Labs on August 4 to launch the NBA Top Shots NFT platform. “NBA Top Shots are short clips like slam dunks and player moves stored on non-fungible tokens. Called Moments, the brief highlight videos have proven hugely popular, helping NFTs break out of the crypto community into the mainstream basketball fan base,” the organization said in its announcement. It added that a minimum of 1000 moments would be minted during the upcoming Summer League games.

Socios

Socios — Socios
Socios is not just dealing in NFTs for sports firms, the company has tie-ups with many teams and athletes who want to launch their own tokens. Football clubs like English Manchester United, Spanish Barcelona and Italian Juventus have partnered with Socios to launch their own fan tokens on the company’s Chiliz crypto exchange. It also has a partnership with the pro-wrestling league Ultimate Fighting Championship, Basketball teams like Boston Celtics, and cricket teams from the Indian Premier League (IPL).

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